- Coinbase Pro declared about listing Horizen on its platform on 15 September.
- ZEN had its price skyrocketing by more than 40% following the announcement.
- Horizen appears to gain momentum, though its price remains 35% low from its ATH.
Coinbase Pro has stated that crypto enthusiasts can access ZEN trading on its crypto exchange site on 15 September. If the token fulfills liquidity conditions, traders can start trading the alternative token on 16 September.
Coinbase Pro Lists ZEN
The leading crypto exchange started accepting Horizen inbound transfers on its platform. Trading activities will launch once ZEN reaches the required supply on the trading platform. The renowned trading platform will launch Horizen order books in three stages – post-only, full trading, and limit-only. Moreover, the cryptocurrency exchange will offer trading pairs in USDT, BTC, and USD.
The Horizen network supports privacy-preserving DApps. The blockchains aim to resolve security and scaling problems in various crypto projects such as Ethereum. Developers conceived ZEN as Zcash’s hard fork. Remember, Zcash is a privacy token. The ecosystem utilizes zero-knowledge proofs to ensure an unwatchable and untraceable native asset for its customers. The network trusts that users’ interactions need to be private.
Also, Horizen is creating privacy resolutions for ‘smart contracts. The network targets being a decentralized network for developing DApps and private publishing and messaging.
Horizen Attracts Investors
Horizen saw its value rising by 43% on 15 September. The lucrative upside moves come after Coinbase Pro revealed supporting ZEN trading services. However, the alt seems to retrace briefly amid decreased buying pressure. For now, the token has to secure a massive foothold to progress higher.
Horizen has encountered massive resistance regardless of its recent surge following buyers’ activities at $110. For instance, the alternative token faced an obstacle by the MRI (Momentum Reversal Indicator). For now, the 78.6% FIB retracement seems an immediate obstacle that ZEN has to battle at $108.
The privacy token will secure a support level around the 61.8% FIB retracement located at $100. More defense line might showcase at the 50% FIB retracement at $94. Meanwhile, if Horizen surge beyond 78.6% FIB retracement at $108, the asset will magnify its probability of attaining a higher high. ZEN will see further resistance at 3 June high at $116, then 30 May high at $124.
Will ZEN maintain its rising outlook? Comment below.